Since flips are typically treated as dealer properties, profits are taxed as ordinary income.Please make sure your entire structure is properly analyzed for you to save most amount of taxes.

But unless their businesses are structured very carefully they're no operating in the clear. 

I’m curious if the process in NYC is similarly structured, where it’s difficult but feasible to follow through, or if there are unique barriers that make it much harder or even impractical.If anyone has insights or could answer a few questions, I’d really appreciate it!

That highly depends on your pay structure.

Also, I'm not sure if you are demoing an existing structure, if the structure is freestanding, etc, but this will obviously greatly affect your overall budget.For our project, most of the material prices are in line with expectations, but where we've been shocked with recent increases is the soft cost. 

I know what exactly it takes to obtain a post-construction permit to bring any un permitted structure into compliance.

I improved the structure What was the outcome?

Houses that sustained fire events have long term consequences including structural damage and mold that results from water intrusion required to extinguish the fire.

That’s a problem if trying to enforce a security position as a lender or Noteholder.You may gain control but economics will dictate structuring a deal to pay the problem spouse something as a “lovely parting gift.” 

If you only plan on owning 2-4 properties, then there's really no harm in self-funding them unless you know a better, safer way to make more than the going interest rate on that money (most investment mortgages right now are about 7%, maybe effectively 5.5-6% after taxes depending on your brackets and tax structure).